Unemployment in the great recession

Christopher Pissarides

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

Abstract: This paper studies the responses of unemployment in Germany, the United States and Britain to the Great Recession of 2008-09 by making use of Beveridge curve analysis, and in the entire OECD with other techniques. It is shown that Britain suffered from recession but no structural problems; the United States suffered from structural unemployment during the recovery; Germany exhibited a much better performance both during and after the recession. The rise in OECD unemployment is broken down into parts due to aggregate activity, the construction sector and a residual attributed to policies and institutions, which is used to reach conclusions about policy.

JEL-codes: E24 J6 (search for similar items in EconPapers)
Pages: 34 pages
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (28)

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http://eprints.lse.ac.uk/51546/ Open access version. (application/pdf)

Related works:
Journal Article: Unemployment in the Great Recession (2013)
Working Paper: Unemployment in the Great Recession (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:ehl:lserod:51546

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